Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2016
Jun. 30, 2016
Current assets:    
Cash and cash equivalents $ 11,156,437 $ 11,557,527
Accounts receivable, net of allowance of $500,853 and $492,498 7,142,255 9,691,229
Accounts receivable, net - related party 5,384,573 5,691,178
Revenues in excess of billings 13,358,858 10,493,096
Revenues in excess of billings - related party 682,049 804,168
Other current assets 3,192,425 2,214,628
Total current assets 40,916,597 40,451,826
Restricted cash 90,000 90,000
Property and equipment, net 22,612,752 22,774,435
Other assets 1,604,731 842,553
Intangible assets, net 19,326,259 19,674,033
Goodwill 9,516,568 9,516,568
Total assets 94,066,907 93,349,415
Current liabilities:    
Accounts payable and accrued expenses 6,389,128 5,962,770
Current portion of loans and obligations under capitalized leases 4,408,173 4,440,084
Unearned revenues 4,419,692 4,739,214
Common stock to be issued 88,324 88,324
Total current liabilities 15,305,317 15,230,392
Long term loans and obligations under capitalized leases; less current maturities 539,859 477,692
Total liabilities 15,845,176 15,708,084
Stockholders' equity:    
Preferred stock, $.01 par value; 500,000 shares authorized;
Common stock, $.01 par value; 14,500,000 shares authorized; 10,882,281 shares issued and 10,855,002 outstanding as of September 30, 2016 and 10,713,372 shares issued and 10,686,093 outstanding as of June 30, 2016 108,823 107,134
Additional paid-in-capital 122,367,231 121,448,946
Treasury stock (27,279 shares) (415,425) (415,425)
Accumulated deficit (39,089,079) (37,323,360)
Stock subscription receivable (602,811) (783,172)
Other comprehensive loss (17,960,133) (18,730,494)
Total NetSol stockholders' equity 64,408,606 64,303,629
Non-controlling interest 13,813,125 13,337,702
Total stockholders' equity 78,221,731 77,641,331
Total liabilities and stockholders' equity $ 94,066,907 $ 93,349,415